NAPFA Updates Membership Standards to Allow for Some Commissions
Wealth Management
JULY 5, 2023
The membership organization for fee-only advisors will now allow for a de minimis amount of commission business, as long as it's relinquished.
How to Find a Fee-Only Financial Advisor
Darrow Wealth Management
FEBRUARY 13, 2025
If youre looking for a fee-only financial advisor or wealth manager, its probably because you know fee-only advisors don’t sell products. Here are some ways to find the best fee-only financial advisor to suit your needs. Heres an explainer on the differences between fee-only and fee-based advisors.
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How a Fee-Only, Flat-Fee Financial Planner Can Save You $114K+
MainStreet Financial Planning
MARCH 7, 2025
The two most common pricing models are fee-only financial planners (flat-fee or fixed-fee advisors) and AUM-based financial advisors (who charge a percentage of assets under management). While AUM advisors may seem appealing, they often come with high lifetime fees and potential conflicts of interest.
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Weekend Reading For Financial Planners (July 1-2)
Nerd's Eye View
JUNE 30, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that NAPFA has announced that it will no longer exclude advisors who receive up to $2,500 in annual trailing commissions from previous product sales, if they agree to donate that money to a non-profit organization (..)
Weekend Reading For Financial Planners (September 14–September 15)
Nerd's Eye View
SEPTEMBER 13, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC this week fined 4 RIAs for violations of its marketing rule related to their claims that they offered 'conflict-free' financial advice.
How to Find a Fiduciary Financial Advisor
Darrow Wealth Management
NOVEMBER 4, 2024
Most fiduciaries don’t sell products: Most fiduciary advisors are only paid by a percentage of assets they manage for clients. This AUM based fee structure is common among fee-only advisors who are almost always full-time fiduciaries. NAPFA advisors are all fee-only financial advisors.
101 Ways Advisors Can Add Value And Attract Their Ideal Clients
Nerd's Eye View
NOVEMBER 28, 2022
From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
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101 Things That Advisors Actually DO To Add Value (Beyond Just Allocating A Portfolio)
Nerd's Eye View
NOVEMBER 28, 2022
From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
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Weekend Reading For Financial Planners (February 10-11)
Nerd's Eye View
FEBRUARY 9, 2024
Also in industry news this week: A recent study finds that having a defined marketing strategy is a linchpin of marketing success, as advisors with a defined strategy were more likely to have seen an increase in inbound leads during the past 12 months and have more confidence in meeting their practice goals during the coming year than those without (..)
What’s a Fiduciary & Fee-Only Advisor?
Yardley Wealth Management
MAY 30, 2023
The post What’s a Fiduciary & Fee-Only Advisor? What’s a Fiduciary & Fee-Only Advisor? A fiduciary and fee-only advisor is an expert who acts in your best interest and only charges a fee for their services. What is a Fee-Only Advisor? What is a Fiduciary?
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Genuine Advisory vs Product Selling
Truemind Capital
JANUARY 24, 2025
Too many products: If your portfolio has more than 20 products in varied proportions, then there is a high likelihood that your advisor is selling you new and new products that pay higher commissions than the existing ones. Usually, equity products offer higher commissions than debt which offer higher commissions than Gold.
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Fee-Only vs. Commission-Based Information
Inside Information
JULY 25, 2024
My subscription service is paid for by the user, just like fee-only advisors are paid by their clients. Their incentives and model are similar to commission-based advisors, whose service inevitably revolves around products that may or may not be in the best interests of their customers.
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#FA Success 291: Managing Fast Growth And Slow Growth Of A Planning-Centric Advice Firm, With Amy Irvine
Nerd's Eye View
JULY 26, 2022
In this episode, we talk in-depth about how after working for years in the financial industry, Amy realized there was a missed opportunity in working with career-driven Gen X women like her and decided to focus on serving that type of clientele she knew so well, how the initial fear of launching a firm on her own initially led Amy to partner with another (..)
What does it mean to be a Fee-Only financial advisor?
Walkner Condon Financial Advisors
APRIL 17, 2023
Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. The amount of commission that a financial advisor receives can vary depending on the financial products they are selling and the company they are working for.
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The Ultimate Mindset and Script to Seamlessly Transition to Fee-Based Fee-Only
Leading Advisor
MARCH 20, 2024
Banning commissions related to financial products and services has been on the horizon for decades, and Fee-Based Fee-Only is inevitable. The Challenge with Transitioning from… The post The Ultimate Mindset and Script to Seamlessly Transition to Fee-Based Fee-Only appeared first on Leading Advisor - Simon Reilly.
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Fiduciary Papers #14: It’s Time to End Commissions and Revenue Sharing
Ron A. Rhodes
DECEMBER 13, 2023
It is possible that all commission-based compensation involving the sale of investment products, life insurance products, and annuities could be eliminated. And it would be right and just to do…
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3 Things You Don’t Know About Josh
The Big Picture
SEPTEMBER 5, 2024
billion in fee only asset flows for the full year 2013; 37% of Morgan Stanley wealth management’s total client assets are now in fee based accounts a record high. Wells Fargo Advisors said at the end of 2013 it had $375 billion in managed account assets, roughly 27% of the $1.4
Unlocking Accessible Financial Advice The Garrett Planning Network Advantage
MainStreet Financial Planning
FEBRUARY 1, 2024
During recent conversations, I’ve come across several people unfamiliar with the concept of fee-only financial planning, let alone considering it as a feasible choice. Importantly, we do not accept sales commissions or any compensation beyond what is directly agreed upon with our clients.
Do you want an honest opinion or flattery?
Truemind Capital
AUGUST 23, 2024
We met a prospective client a few days ago and enlightened him about our 0% commission, conflict-free advisory model. The bank (and many wealth management firms) earns commissions when investors buy its products. We explained how commissions create a conflict of interest.
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Get a job as a Financial Paraplanner at an RIA firm and ignore the schmucky wirehouse and insurance jobs!
Sara Grillo
OCTOBER 21, 2022
Fee-only advisor – This is an advisor that does not charge commissions and hence is believed to be more aligned with the client’s best interests. Fee-only advisors are bound to the fiduciary standard. He knew before graduating fee-only was the path for him, his conscience, and his personality.
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What type of financial advisor is right for you? Questions you should ask.
Walkner Condon Financial Advisors
APRIL 21, 2023
What does it mean to be a Fee-Only financial advisor ? Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. Fee-based advisors are where it can get complicated. What does it mean to be a fiduciary?
Let a million RIAs bloom
Truemind Capital
AUGUST 9, 2024
The best way to solve this problem is by increasing the number of fee-only SEBI Registered Investment Advisors (RIAs) who by design think in the interest of clients. By regulation, RIAs can’t earn from commissions received from product companies.
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What is the cost of a financial advisor?
WiserAdvisor
AUGUST 18, 2023
Below are the different types of financial advisors you can choose from based on their fee model: 1. Fee-only financial advisors Average cost: $200 to $400 an hour/ $1,000 to $3,000 per plan/ 1.18% to 0.59% of AUM Fee-only financial advisors are professionals who do not receive commissions from selling financial products.
Is it Wise to Put All Your Money With One Financial Advisor?
WiserAdvisor
JULY 22, 2022
The advisors can be differentiated based on the fee structure they use to charge fees such as fee-only, commission-only, hourly-fee, monthly fee, etc. It may also be the case that the advisor pushes a particular investment in the hopes of earning a commission.
Fiduciary Papers #17: WHY THE INSURANCE LOBBY’S ARGUMENTS AGAINST THE DOL RULE ARE DISINGENUOUS
Ron A. Rhodes
JANUARY 6, 2024
The insurance lobby is against the imposition of the fiduciary standard by the DOL, as it will lower the excessive commissions often paid on the sale of Fixed Index Annuities…
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Cracking Open the Fiduciary Door
Inside Information
JUNE 28, 2023
This is really none of my business, but I can’t help saying that I hate the new policy at the National Association of Personal Financial Advisors regarding trail commissions. We will have to cheapen the hard, strong language that we’re accustomed to using when we recommend working with a fee-only planner.
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Financial Literacy Resources for Kids
Your Richest Life
JULY 29, 2022
Your teen will receive their own debit card with no account fees, account minimum or trading commissions. At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning. Financial Literacy Books for Parents. About Your Richest Life.
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Amplifying 8 Asian-American Voices in Financial Planning
eMoney Advisor
MAY 1, 2023
Regularly one of the highest-ranked NAPFA-registered fee-only financial advisors, he has set the bar for Zhang Financial characteristically high. ” Recently in the news for her appointment to the CFP Board’s new Competency Standards Commission, Yung is managing director at Midtown Financial.
How to Become a Financial Advisor in India?
International College of Financial Planning
AUGUST 2, 2021
There are two types of Financial Advisors in India – Fee-Only Advisors and Commission Only Advisors. Fee-only advisors need to be registered with SEBI certified financial advisors (Securities and Exchange Board of India) as an RIA (Registered Investment Advisor).
How Financial Advisors Make Money
Carson Wealth
AUGUST 28, 2022
They are paid a commission by their underlying broker/dealer or insurance company when a customer purchases a product, such as a mutual fund, annuity or life insurance policy. . The commission is not paid directly by the consumer. Financial advisors who only charge fees might categorize themselves as “fee-only.”
How to Become a Financial Advisor or Financial Planner in India?
International College of Financial Planning
SEPTEMBER 3, 2021
They may charge for their services either on a commission basis or hourly rates. However, our advice is to trust financial planners who either take a flat annual fee or charge per hour for managing your portfolio instead of charging a commission on every stock they buy or sell. Go for Fee-Only Financial Advisors.
“My client hired another advisor for their business 401(k).”
Sara Grillo
MAY 10, 2024
My client’s estate planning attorney said they should hire a fee-only advisor to manage their assets, and then they asked me if I charge fees or commissions. As a fiduciary, I charge 1% of your assets, and do not accept commissions.” I’m a Social Security expert.
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Average Fees for Financial Advisors in 2023
Harness Wealth
MAY 25, 2023
The primary fee structures are: Fee-only : Advisors only receive payment from their clients for the services they provide, not receiving any commissions or other incentives from product providers. Fee-based : This structure is a blend of fees and commissions. Financial Advisor FAQs 1.
What’s The Difference Between a Broker and an Advisor?
Tobias Financial
NOVEMBER 29, 2022
Brokers are paid by a commission on the investment products they sell. Fiduciary advisors are generally fee-only. In this structure, they charge a specific fee for the work they provide, untethered to any products or investment options they recommend. They must always put clients’ interests above their own. .
Free ki advice can be very costly
Truemind Capital
FEBRUARY 8, 2024
– Hidden costs & agenda : There may be hidden costs in terms of commissions or kickbacks that are not explicitly disclosed while making the sale of any product. On top of it, a fee-only SEBI Registered Investment Advisor would ensure your and his/her interests are aligned. Do you still want free advice?
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Do You Offer Direct Indexing Yet? What You Should Know as an Advisor
XY Planning Network
JULY 11, 2022
Direct indexing is consuming a lot more ink recently, and one of the primary reasons might be that the elimination of commissions on equities has made it dramatically less expensive to pursue. And, technology, too, might be a big driver. New software tools open the door for an advisory practice of any size to offer it.
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Is It Worth Paying a Financial Advisor 1%?
WiserAdvisor
AUGUST 3, 2023
Generally, financial advisors charge a flat fee based on the services offered and the duration of the engagement, such as $xx for a month/ quarter/ year. They may also charge an hourly rate for every meeting you have or a commission for the financial instruments they recommend. Are financial advisors worth it?
This financial advisor makes getting leads from social media look like a piece of cake!
Sara Grillo
JULY 10, 2023
He asked for help and found a support community Right now Thomas is a fee-only fiduciary financial advisor. But when he started out, he was working for a broker-dealer firm that charged commissions. He stumbled across a man named Russ Ford who was a fee-only flat fee advisor, and he liked the message.
A Hierarchy of Conflicts
Inside Information
JANUARY 31, 2022
The obvious next priority to put on the regulatory watch list is sales commissions. I think it’s self-evident that any product that has to pay people to recommend it is probably not competitive on its own merits.
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How Often Should You Rebalance Your 401(k)?
Darrow Wealth Management
OCTOBER 29, 2024
Trading costs vary by platform and commissions may apply if you’re not working with a fee-only advisor. If you’re not confident your original asset allocation is the best one, it likely doesn’t make sense to rebalance back to this potentially flawed allocation. Both can add up and reduce returns.
What is the future of financial advisor fees?
Sara Grillo
OCTOBER 10, 2022
Fee-only vs. fee-based. But… Fee for service (and only fee for service) is a haven where the sales agenda mimicry cannot follow. Providing financial plans vs. canned financial plans with a sales agenda. Fiduciary vs. ‘best interest.’.
Toward a (Much) Better World
Inside Information
FEBRUARY 27, 2023
The leading tip of the spear was the first fee-only financial planners, who publicly and even defiantly sat on the same side of the table with their clients. The whole idea of turning financial customers into clients was invented in the fee-only financial planning world.
The Best 401(k) Funds for Millennials and Why You Should Invest in a Mix Now
Yardley Wealth Management
AUGUST 24, 2020
03% for IXUS and they can be bought commission-free and the spreads on each average only $.01. We are a fiduciary, fee-only financial planning, and wealth management firm in Newtown, Pennsylvania (that’s in Bucks County). We only do Estate Planning work and I am licensed in Pennsylvania and New Jersey.
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Standing Out in the Herd of Predators
Inside Information
OCTOBER 29, 2023
I said that brokers and sales agents are essentially predators, wolves in sheep’s clothing, where the sheep are fiduciary advisors, and the clothing is, well, you know what it is: ‘fee-based’ and ‘best interest’ (instead of fee-only and fiduciary).
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